Mr. Berg also disclosed to the RSIC an investment of up to 1% of plan assets, or roughly $313 million, to an emerging markets small-cap equity strategy run by Man Numeric.

These investments were closed on between June and November, according to investment reports from the commission released Thursday.

In October 2017, the RSIC granted the CIO a limited delegation of the final authority to invest, Ms. Broughton said. The commission's delegation policy requires the CIO and the investment team to report to the commission regarding any delegated investment that is closed at the next regularly scheduled commission meeting.

The RSIC manages the assets of South Carolina's state pension funds on behalf of the South Carolina Public Employee Benefit Authority, Columbia.